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Hj heinz currently supplies condiments and other food

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H.J. Heinz currently supplies condiments and other food products to several large food service chains across the U.S. and around the globe. They also supply to retail chain stores and the U. S. Military. To stay competitive and win bids year after year, H.J. Heinz must to continue to provide excellent bulk pricing and excellent delivery options. Product Life Cycle As Team A introduces the TRI-Pac to Heinz’s, we will explain the stages of the product life cycle by introducing the growth, the maturity, and the declining of the product. The product life cycle is associated with marketing situation changes and the marketing mix and marketing strategy is impacted. Life cycles stages are usually represented by the profits and product revenues plotted on graphs with product sales. Introducing our product will let the consumer know the goal that our team is trying to accomplish in the market and building demands for the product class. The growth stage looks for ways to increase market shares and build brand preferences. The growth stage consists of the product, pricing, distribution, promotion, and advertising of the product. The product is relatively undifferentiated, or the quality of the product. The pricing is first determined by the introductory prices which is set low to rapidly gain market shares. Distribution channels are scattered to introduce the product. Promotions of the product are
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aimed towards awareness. The advertising of the product will be based on the high ad building product awareness. The maturity stage is the stage in which strong growth of the product in terms of sales diminishes. This is the stage where you see the competition of similar products, and maximizing profit. During the maturity stage consist of products, pricing, distribution and promotions. The product in this stage differentiate our product form the competitors’ products. Pricing of the substitutes for this product should be cheaper. Distribution will have intensified and incentives are offered to influence customer’s purchasing decision towards Heinz Tri-Pac over competing products. Promotions should focus on building brand loyalty. The decline stage is where the sales may slow down or with the potential for lost profit. Declining of sales can be caused for many reasons such as: consumers taste, increase in competition, and technological advances. When sales are declining the company needs to concentrate on their aging products, management should reformulate, or reposition the brand to regain profit. 1. Marketing mix 1.a. Product/service 1.a.1) Type - good, service, idea, etc. 1.a.2) Features - how will it be different from the competition? 1.a.3) Identification - brand name, label, and packaging 1.a.4) Production method/delivery of service Price
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With our new product getting ready to be brought to the public, there are a few objectives that must be carefully planned out. The most important in our battle against the competition is our pricing strategy, which will be a determination of how well we can make our product thrive in the market. Like many new items on the market, prices will be a little higher than expected, at
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  • Spring '12
  • ALL
  • Marketing, Henry John Heinz, H.J. Heinz

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